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(a) There is hereby created within the Treasury of the City of Los Angeles a Trust Fund known as the “Senior Transportation, 12th District Trust Fund.”
(b) All interest or other earnings from moneys received into said Fund shall be credited thereto and shall be devoted to the purposes set forth herein.
(c) The Fund shall be administered by the City Clerk subject to the direction of the Council member representing Council District No. 12 and shall be used exclusively for the development of projects and programs for the transportation of senior citizens residing within Council District No. 12.
SECTION HISTORY
Added by Ord. No. 159,090, Eff. 7-27-84.
There is hereby created within the Department of General Services of the City of Los Angeles a Fund which is known as the Salvage Trust Fund, hereinafter referred to in this article as the “Fund”. Said fund is under the direction and control of the General Manager and Purchasing Agent.
SECTION HISTORY
Based on Ord. No. 52,230, Sec. 16.
Amended by: Ord. No. 85,313; Ord. No. 152,427, Eff. 6-29-79.
Whenever, in connection with any sale of property no longer needed for the use of the City, the Purchasing Agent shall receive from the Purchaser any money as cash bond or guaranty to assure that the property sold will be demolished or removed or that a site shall be cleared of debris, or that any other term of the contract of sale will faithfully be performed, such money so received shall be deposited in the Salvage Trust Fund.
SECTION HISTORY
Based on Ord. No. 52,230, Sec. 16.
Amended by: Ord. No. 85,313.
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